Gath Meat Packing Company is a meat processing business. To reduce costs and increase profits, the president and CEO of Gath orders Gath’s employees to violate federal criminal meat processing laws. The United States Department of Justice prosecutes Gath for criminal violations of the meat processing law. Has Gath committed criminal violations?

Yes, because the president and CEO, a high-level administrator of Gath, authorized the commission of the crimes.

No, because the board of directors did not authorize the president and CEO or the other employees to violate federal law.

No, because a corporation is not liable for most crimes committed by its agents.

Yes, because a corporation is always liable for the crimes committed by its agents.

For which of the following would a shareholder derivative action be appropriate?

The shareholder alleges that the corporation has violated the shareholder’s preemptive right.

The shareholder alleges that the board of directors has imprudently managed the corporation.

The shareholder has refused a request that his/her accountant be permitted to look at the corporate accounting records.

The shareholder alleges that the corporation has been paying dividends to a previous shareholder from whom the shareholder purchased his/her shares.

_____________ means the accused failed to perceive a substantial risk of harm that a reasonable person would have perceived.

Exculpation

Recklessness

Duress

Negligence

The board of directors of Filex Corporation, at a regular meeting of the board, entered into a contract with Ginger Grant, one of the directors. This contract called for Filex to purchase 120 acres of land from Ginger. Of the ten members on the board, eight were present at the meeting. One of the directors present was Ginger. All the other directors were disinterested in the transaction and not related to Ginger. After a lengthy discussion, six directors voted in favor of the contract and two voted against it. Ginger voted for the contract. Which of the following is true?

The contract is valid since it was approved by a majority of a quorum of the board.

The contract becomes void if the corporation proves that the contract was unfair to it.

The contract is voidable unless Ginger proves that the contract is fair to the corporation.

The contract between Ginger and the corporation is illegal and invalid.

A method of alternative dispute resolution in which a neutral third party helps the parties reach a resolution of the dispute by facilitating communication, clarifying areas of agreement, helping see each other’s viewpoints, suggesting settlement options, but who cannot make decisions that bind the parties, is called _______.

Jacobs put an old typewriter in the trash. The trash collector, Land, took the typewriter, fixed it up, and sold it to Jones for $750. Jacobs contends that he is entitled to some or all of the $750 that Land received from Jones. Based on these facts:

Jacobs is entitled to recover the typewriter from Jones.

Land is entitled to keep the full $750 because Jacobs had abandoned the typewriter.

Jacobs is entitled to the $750 because Land paid Jacobs no consideration for the typewriter.

Land is entitled to the value of the improvements he made, but Jacobs is entitled to the difference between the $750 Land received and the value of the improvements Land made.

Which of the following is true regarding the principle of separation of powers?

The President can allow the Supreme Court to overturn very broad delegation of power to administrative agencies.

The Constitution seeks to ensure that governmental powers remain accountable to the public will.

Congress is allowed to create an administrative agency only if Congress, rather than the President, will appoint the commissioners or board members of the agency.

The congressional delegation of legislative power to an agency in its enabling legislation may never be challenged.

Ted is the president of Soprano Corporation (SC). Ted decided to have SC manufacture large, gas-guzzling SUV automobiles just before gasoline prices rose dramatically. As a result, SC lost billions of dollars. The shareholders of SC want to sue Ted for this bad decision that cost them billions. However, Ted had made a reasonable investigation before making this decision, he had a rational basis for it, and he had no conflicts of interest regarding this decision. What would be the probable outcome if the shareholders file a suit?

Reggie went to the Napa Valley Harvest Festival, when he stopped at Tracy’s booth where she was selling paintings of vineyards. Reggie admired a painting of vineyards that did not appear to be for sale. Reggie said to Tracy, “I will give you $200 for that painting right now.” Tracy said nothing in response but she gave Reggie the painting, and Reggie gave her $200 in cash. This is an example of a contract that is now _____.

unilateral and executory

bilateral and executory

bilateral and executed

unilateral and executed

Under the doctrine of federal jurisdiction, a corporation is:

A citizen of only the place where it has been incorporated.

A citizen of only the state where it has its principal place of business.

A citizen of that state which has enacted a “long arm” statute and thus has jurisdiction.

A citizen of both its place of incorporation and the state where it has its principal place of business.

This article covers the topic for the University Of Phoenix LAW 531 Final Exam. The author is working in the field of education from last 5 years. This article covers the basic of LAW 531 Week 6 Final Exam from UOP. Other topics in the class are as follows:

Discrimination against a black woman solely because of her religion.

Discrimination against a person of French ancestry because he “talks like an Englishman.”

Gath Meat Packing Company is a meat processing business. To reduce costs and increase profits, the president and CEO of Gath orders Gath’s employees to violate federal criminal meat processing laws. The United States Department of Justice prosecutes Gath for criminal violations of the meat processing law. Has Gath committed criminal violations?

Yes, because the president and CEO, a high-level administrator of Gath, authorized the commission of the crimes.

No, because the board of directors did not authorize the president and CEO or the other employees to violate federal law.

No, because a corporation is not liable for most crimes committed by its agents.

Yes, because a corporation is always liable for the crimes committed by its agents.

For which of the following would a shareholder derivative action be appropriate?

The shareholder alleges that the corporation has violated the shareholder’s preemptive right.

The shareholder alleges that the board of directors has imprudently managed the corporation.

The shareholder has refused a request that his/her accountant be permitted to look at the corporate accounting records.

The shareholder alleges that the corporation has been paying dividends to a previous shareholder from whom the shareholder purchased his/her shares.

A sole proprietorship as a form of business can be transferred to someone else.

A sole proprietorship has a life of its own apart from its owner.

_____________ means the accused failed to perceive a substantial risk of harm that a reasonable person would have perceived.

Exculpation

Recklessness

Duress

Negligence

The board of directors of Filex Corporation, at a regular meeting of the board, entered into a contract with Ginger Grant, one of the directors. This contract called for Filex to purchase 120 acres of land from Ginger. Of the ten members on the board, eight were present at the meeting. One of the directors present was Ginger. All the other directors were disinterested in the transaction and not related to Ginger. After a lengthy discussion, six directors voted in favor of the contract and two voted against it. Ginger voted for the contract. Which of the following is true?

The contract is valid since it was approved by a majority of a quorum of the board.

The contract becomes void if the corporation proves that the contract was unfair to it.

The contract is voidable unless Ginger proves that the contract is fair to the corporation.

The contract between Ginger and the corporation is illegal and invalid.

A limited partnership:

May not have a corporation as a general partner.

May be taxed either as a partnership or as a corporation.

May be created by default.

Dissolves when a partner dies.

A method of alternative dispute resolution in which a neutral third party helps the parties reach a resolution of the dispute by facilitating communication, clarifying areas of agreement, helping see each other’s viewpoints, suggesting settlement options, but who cannot make decisions that bind the parties, is called _______.

minitrial

conciliations

arbitration

mediation

Jacobs put an old typewriter in the trash. The trash collector, Land, took the typewriter, fixed it up, and sold it to Jones for $750. Jacobs contends that he is entitled to some or all of the $750 that Land received from Jones. Based on these facts:

Jacobs is entitled to recover the typewriter from Jones.

Land is entitled to keep the full $750 because Jacobs had abandoned the typewriter.

Jacobs is entitled to the $750 because Land paid Jacobs no consideration for the typewriter.

Land is entitled to the value of the improvements he made, but Jacobs is entitled to the difference between the $750 Land received and the value of the improvements Land made.

Which of the following is true regarding the principle of separation of powers?

The President can allow the Supreme Court to overturn very broad delegation of power to administrative agencies.

The Constitution seeks to ensure that governmental powers remain accountable to the public will.

Congress is allowed to create an administrative agency only if Congress, rather than the President, will appoint the commissioners or board members of the agency.

The congressional delegation of legislative power to an agency in its enabling legislation may never be challenged.

It must be proved that the crime is dangerous or detrimental to society.

A behavior is not a crime unless a state legislature has criminalized it.

Ted is the president of Soprano Corporation (SC). Ted decided to have SC manufacture large, gas-guzzling SUV automobiles just before gasoline prices rose dramatically. As a result, SC lost billions of dollars. The shareholders of SC want to sue Ted for this bad decision that cost them billions. However, Ted had made a reasonable investigation before making this decision, he had a rational basis for it, and he had no conflicts of interest regarding this decision. What would be the probable outcome if the shareholders file a suit?

Ted is liable under the ultra vires rule.

Ted is liable under the various liability rule.

Ted is not liable under the corporate protection rule.

Ted is not liable under the business judgment rule.

Which of the following is also called “judgemade” law?

Statutes

Equity

Uniform acts

Common law

Reggie went to the Napa Valley Harvest Festival, when he stopped at Tracy’s booth where she was selling paintings of vineyards. Reggie admired a painting of vineyards that did not appear to be for sale. Reggie said to Tracy, “I will give you $200 for that painting right now.” Tracy said nothing in response but she gave Reggie the painting, and Reggie gave her $200 in cash. This is an example of a contract that is now _____.

unilateral and executory

bilateral and executory

bilateral and executed

unilateral and executed

Under the doctrine of federal jurisdiction, a corporation is:

A citizen of only the place where it has been incorporated.

A citizen of only the state where it has its principal place of business.

A citizen of that state which has enacted a “long arm” statute and thus has jurisdiction.

A citizen of both its place of incorporation and the state where it has its principal place of business.

Criminal courts jurisdiction over civil cases

State courts more power than federal ones

Appellate courts to hear new cases

Courts jurisdiction over out-of-state defendants

This article covers the topic for the University Of PhoenixLAW 531 Final Exam. The author is working in the field of education from last 5 years. This article covers the basic of LAW 531 Final Exam Latest from UOP. Other topics in the class are as follows: